Friday August 11th

12-08-2016

US futures slightly lower after retail sales data release

U.S. stock index futures indicated a slightly lower open on Friday as traders digested a slew of data releases after Thursday saw the Dow, S&P and Nasdaq all close at record highs. The producer price index reading for July showed a 0.4 percent fall, with economists expecting a rise of 0.1 percent. Retail sales, meanwhile, came in flat. On the earnings front, JC Penney reported mixed quarterly results. In oil markets, Brent crude traded at $46.11 a barrel, 0.17 percent higher for the session, while U.S. crude held at $43.67 a barrel, up 0.4 percent. In Europe, the pan European Stoxx 600 Index was flat. In Asia, Japan's Nikkei closed 1.10 percent higher on Friday, while in China the Shanghai Composite closed 1.61 percent higher. New data overnight showed China's industrial output for July grew 6 percent on-year, a touch lower than a Reuters poll forecast. Retail sales and fixed asset investment also missed expectations slightly. Gold edged lower on Friday, as global stocks surged and the dollar firmed on renewed expectations of a rate hike by the U.S. Federal Reserve this year. Spot gold was down 0.1 percent at $1,336.71 an ounce by 0929 GMT, while U.S. gold slipped 0.6 percent to $1,342.20 an ounce.